Washington: US President Donald Trump has announced a new immigration initiative, the “Trump Gold Card” visa, which will replace the decades-old EB-5 investor visa program. The proposed visa, requiring a $5 million investment, offers an immediate pathway to US citizenship without any job creation requirements. Unlike the EB-5 visa, which mandates investors to create at least ten jobs and has a backlog of applicants—especially among Indians—Trump’s new plan allows direct residency for those who can afford the steep price. Commerce Secretary Howard Lutnick stated that the initiative aims to eliminate fraud and inefficiencies in the EB-5 program while generating significant revenue for the US government. Trump even suggested that selling 10 million such visas could help reduce the national deficit.

For wealthy Indian nationals, the new visa could be a game-changer, providing a much faster and simpler route to permanent residency compared to the existing EB-5 visa or the lengthy H-1B to green card process. However, the high cost means that only India’s ultra-rich will be able to take advantage of this shortcut. Currently, Indian applicants for EB-5 visas face wait times of seven to ten years, while those on H-1B, EB-2, or EB-3 visas endure even longer delays for green card approvals. If implemented, the “Gold Card” will remove the backlog issue entirely, but it is unlikely to benefit the majority of Indian professionals seeking US residency.

While Trump’s proposal is expected to overhaul investor immigration, alternatives remain for those unable to afford the $5 million price tag. The existing EB-5 visa—if still available before being phased out—offers a lower investment threshold of $800,000 in targeted employment areas but requires job creation. Other options include the O-1 visa for highly skilled professionals, the L-1 visa for business executives, and the traditional H-1B to EB-2/EB-3 route, though these come with long wait times. With Trump pushing for rapid implementation, the fate of existing investor visa applicants remains uncertain, and the proposal is likely to spark debate in the US immigration policy landscape.